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Quote by John Ruskin

“Society has sacrificed its virtues to the Goddess of Getting Along.”

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John Ruskin was an influential British art critic, writer, and social critic. Known for his profound insights into art, architecture, and social issues, he had a significant impact on the aesthetics and culture of the Victorian era. more

“There are three important principles to Graham's approach. [The first is to look at stocks as fractional shares of a business, which] gives you an entirely different view than most people who are in the market. [The second principle is the margin-of-safety concept, which] gives you the competitive advantage. [The third is having a true investor's attitude toward the stock market, which] if you have that attitude, you start out ahead of 99 percent of all the people who are operating in the stock market - it's an enormous advantage.”

“I've learned mainly by reading myself. So I don't think I have any original ideas. Certainly, I talk about reading Graham. I've read Phil Fisher. So I've gotten a lot of my ideas from reading. You can learn a lot from other people. In fact, I think if you learn basically from other people, you don't have to get too many new ideas on your own. You can just apply the best of what you see.”

People Ifs Thinking Ideas Facts Reading Originals I've Learned New Ideas Original Ideas

Author:Warren Buffett

“Risk is not inherent in an investment; it is always relative to the price paid. Uncertainty is not the same as risk. Indeed, when great uncertainty - such as in the fall of 2008 - drives securities prices to especially low levels, they often become less risky investments.”

Fall Levels Risk Security Lows Paid Investment Uncertainty Relative Inherent Low Level

Author:Seth Klarman

“Of the maxims of orthodox finance none, surely, is more anti-social than the fetish of liquidity, the doctrine of that it is a positive virtue on the part of investment institutions to concentrate their resources upon the holding of 'liquid' securities. It forgets that there is no such thing as liquidity of investment for the community as a whole.”

Whole Social Community Forget Virtue Security Resources Institutions Investment Doctrine Finance Orthodox Maxims Liquid Fetish Anti Social Liquidity

Book:General Theory Of Employment , Interest And Money

Source: General Theory Of Employment , Interest And Money

“Do not trust financial market risk models. Despite the predilection of some analysts to model the financial markets using sophisticated mathematics, the markets are governed by behavioral science, not physical science.”

Risk Models Mathematics Financial Despite Sophisticated Analysts Financial Markets Physical Science Market Risk

Author:Seth Klarman

“Investing is the intersection of economics and psychology. The analysis is actually the easy part. The economics, the valuation of the business isn't that hard. The psychology - how much do you buy, do you buy it at this price, do you wait for a lower price, what do you do when it looks like the world might end - those things are harder. Knowing whether you stand there, buy more, or whether something has legitimately gone wrong and you need to sell, those are harder things. That you learn with experience, by having the right psychological makeup.”

World Needs Looks Ends Hard Might Easy Waiting Gone Knowing Psychology Economics Harder Sells Investing Psychological Analysis Makeup Intersections Valuation

Author:Seth Klarman

“Value investors have to be patient and disciplined, but what I really think is you need not to be greedy. If you're greedy and you leverage, you blow up. Almost every financial blow up is because of leverage.”

Ifs Thinking Needs Values Patient Financial Blow Investors Greedy Be Patient

Author:Seth Klarman

“When you build a bridge, you insist that it can carry 30,000 pounds, but you only drive 10,000-pound trucks across it. And that same principle works in investing.”

Principles Investing Bridges Pounds Truck

Book:Warren Buffett on Business: Principles from the Sage of Omaha

Source: Warren Buffett on Business: Principles from the Sage of Omaha

Quote by John Ruskin

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